NEW YORK (TheStreet) -- A positive reaction to earnings as well as several analyst upgrades this morning has sent beaten down Yelp (YELP) soaring as much as +14% today, leading many on StockTwits to speculate that perhaps it has put in a bottom (at least in the short term)? Message volume on the StockTwits.com Yelp stream has been exploding as investors warm up to the idea:
$YELP over 30% rally from lows just days ago. A bit more to go.....and then some.- Morpheus (@Morpheus) May. 1 at 09:33 AM
More importantly, the price action in (YELP) may be sending signals about the state of other beaten down siblings:
As investors have had time to digest the latest data, some bullish themes are beginning to emerge:
$YELP great company, low market cap, good takeover prospect or potential to become a bigger company on its own. Mkt always pay up for growth- X (@StarPower) May. 1 at 06:50 AM
$YELP growth metrics year over year are VERY promising, user growth and new contract business growth both +40% y/y- MG (@studatnu2002) May. 1 at 07:04 AM
$YELP A nice surprise. Average news is good news finally.- Howard Lindzon (@howardlindzon) May. 1 at 08:24 AM
If the bullish thesis holds, the next question becomes: Where can we go from here?
The good news for bulls is, sentiment is showing signs of supporting higher prices:
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This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.